Ocean Bio-Chem shares soar on increased Wal-Mart shipments

GabrielMadway

SAN FRANCISCO (MarketWatch) -- Ocean Bio-Chem Inc.
OBCI, +3.64%
shares rocketed up Wednesday morning after the Fort Lauderdale, Fla.-based maker of maintenance products for boats and cars said it has begun increased product distribution to Wal-Mart Stores Inc.
WMT, -1.93%
In a company filing with the Securities and Exchange Commission, Ocean Bio-Chem said Wal-Mart will carry an increased assortment of its products in roughly 2,700 outlets, many of which did not previously carry any of its products. Ocean Bio-Chem's share price more than doubled Wednesday, rising $2.30 to $4.16 in afternoon trade.

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